INNODATA INC (INOD)

Services-Computer Processing & Data Preparation

Latest Price

$55.24

TTM P/E

41.53

Normalized P/E

131.52

Div Yield

Book Value

4.77

P/B Ratio

11.58

Valuation metrics

EPS: $0.92

Book value / share: $3.31

Formula: √(22.5 × EPS × BVPS)

Graham Number

$8.28

85% downside

Norm. op. income: $139,000 (median of 7yr)

Tax rate: 30%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$2.39

96% downside

Base FCF: $14M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$34.64

37% downside

EPS: $0.92

Target P/E: 42×

Formula: EPS × P/E

P/E Fair Value

$38.64

30% downside

61.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	2.72M	$205.0M	7.91%	+326.4K	2026-06-30
JANE STREET GROUP, LLC	1.99M	$150.0M	5.78%	+1.25M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	1.39M	$105.0M	4.05%	+45.8K	2026-06-30
D. E. Shaw & Co., Inc.	931.4K	$70.0M	2.71%	+581.0K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	836.6K	$63.0M	2.43%	+59.3K	2026-06-30
STATE STREET CORP	811.4K	$61.0M	2.36%	+100.2K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	594.7K	$44.0M	1.73%	+11.5K	2026-06-30
Jupiter Topco LLC	518.4K	$39.0M	1.51%	--	2026-06-30
Nuveen, LLC	481.7K	$36.0M	1.40%	+241.2K	2026-06-30
JPMORGAN CHASE & CO	479.1K	$36.0M	1.39%	+393.3K	2026-06-30